Private Advisor Group LLC Sells 2,383 Shares of Geron Co. (NASDAQ:GERN)

Private Advisor Group LLC reduced its holdings in shares of Geron Co. (NASDAQ:GERN) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 179,168 shares of the biopharmaceutical company’s stock after selling 2,383 shares during the period. Private Advisor Group LLC’s holdings in Geron were worth $760,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Tokio Marine Asset Management Co. Ltd. bought a new position in shares of Geron during the first quarter valued at approximately $333,000. Price T Rowe Associates Inc. MD increased its position in Geron by 999.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,064,963 shares of the biopharmaceutical company’s stock valued at $6,815,000 after buying an additional 1,877,184 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Geron by 37.9% during the fourth quarter. BNP Paribas Financial Markets now owns 714,012 shares of the biopharmaceutical company’s stock valued at $1,507,000 after buying an additional 196,328 shares during the last quarter. Kingsview Wealth Management LLC bought a new stake in Geron in the first quarter worth $34,000. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of Geron by 12.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 64,438 shares of the biopharmaceutical company’s stock worth $212,000 after acquiring an additional 7,034 shares during the last quarter. Institutional investors own 73.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GERN. StockNews.com raised Geron to a “sell” rating in a research report on Monday, August 5th. Leerink Partners assumed coverage on shares of Geron in a research note on Monday, September 9th. They issued an “outperform” rating and a $7.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and set a $6.00 price target on shares of Geron in a research report on Friday, August 9th. Stifel Nicolaus upped their price objective on Geron from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Finally, Wedbush reissued an “outperform” rating and issued a $8.00 target price on shares of Geron in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Geron currently has a consensus rating of “Moderate Buy” and an average target price of $7.06.

Insider Buying and Selling at Geron

In related news, COO Andrew J. Grethlein sold 674,348 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $4.56, for a total value of $3,075,026.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.10% of the company’s stock.

Geron Price Performance

Shares of GERN opened at $4.37 on Tuesday. The firm has a fifty day simple moving average of $4.57 and a two-hundred day simple moving average of $3.96. The firm has a market cap of $2.59 billion, a PE ratio of -12.49 and a beta of 0.50. The company has a current ratio of 3.61, a quick ratio of 3.60 and a debt-to-equity ratio of 0.12. Geron Co. has a 1-year low of $1.64 and a 1-year high of $5.34.

Geron (NASDAQ:GERN) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.10) EPS for the quarter, hitting the consensus estimate of ($0.10). Geron had a negative return on equity of 73.79% and a negative net margin of 15,990.68%. The company had revenue of $0.88 million during the quarter, compared to analyst estimates of $0.34 million. During the same quarter in the previous year, the company posted ($0.09) earnings per share. Geron’s revenue was up 2941.4% compared to the same quarter last year. On average, equities analysts anticipate that Geron Co. will post -0.34 EPS for the current year.

Geron Company Profile

Geron Corporation, a late-stage clinical biopharmaceutical company, focuses on the development and commercialization of therapeutics for myeloid hematologic malignancies. It develops imetelstat, a telomerase inhibitor that is in Phase 3 clinical trials, which inhibits the uncontrolled proliferation of malignant stem and progenitor cells in myeloid hematologic malignancies for the treatment of low or intermediate-1 risk myelodysplastic syndromes and intermediate-2 or high-risk myelofibrosis.